Vermont is unlikely to launch a state-run carbon market in the near future, becoming the third state in recent months to face a setback starting a program to reduce planet-warming emissions.
After New York and Maryland delayed plans to create carbon markets, a new report by Vermont’s state treasurer found “there is no viable cap-and-invest program available to Vermont.”
Treasurer Mike Pieciak (D) said Vermont — population 648,000 — is too small to have its own statewide market and that joining another state market would drive up gasoline prices by at least 30 cents per gallon.
The report along with a recent political shift in the Vermont Legislature are the latest blow to efforts to create state-run carbon markets as President Donald Trump eliminates federal climate efforts and banishes “climate change” from government lexicon.
